Young man takes control of family finances at age 13, earns mom perfect credit score

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Speaker 3
It's what Tam saying? Because she watches online.
Speaker 10
She's going to UCF. She's in a great College.
Speaker 3
She might. She might just here. Oh, Yeah, she's already talking about that so we'll see what happens.
Speaker 7
all right.
Speaker 10
Mom and Dad?
Speaker 3
No, it can be downright hard just getting the kids to do their homework. But one young man took it a step
further. He took over the family finances at 13 years old. Now, he's made a big difference in the past five
years.
Speaker 10
But first, making a difference is sponsored by Chick Fil - A.
Speaker 3
Well, most of us dread paying bills, following case, taxes, and, you know, it can be mind bothering at
times. But one young man is making a difference, earning his mom a perfect credit score.
Speaker 2
Danny Sing has an eye for finance. Seven years ago, at age 11, he took over his mother's daily bills, and
I do mean took over.
Speaker 1

I manage all her credit cards. I make sure they're always paid early, paid on time, never delinquent. I
make sure her home insurance is paid. Her car loan is paid, her car insurance is paid. I make sure her
taxes are getting paid properly. The escrows with the mortgage. I make sure while numerous payments
are being submitted every day to keep her utilization below 30%.
Speaker 2
Okay, I get it. You're smarter than me, and ahead of the curve for most 18 year olds. But it did take hard
work for this whiz kid to learn his craft, using the Internet, talking to customer service centers, advice from
his mom, and reading the fine print.
Speaker 1
It used to be kind of hard, annoying. But then gradually, I started liking it and then started becoming my
passion. And so now I really like finances and want to do that In College,
Speaker 2
Danny got into crunching numbers when his mom was working longer hours, and she didn't have time to
stay on top of the family bills. Now there's time for everything.
Speaker 1
I'm able to spend the day with her. And she really liked spending time with me and not having to deal with
the stress. And she's really happy since my father passed away that she has a person she can share it
with. And it's made us closer.
Speaker 3
Yeah, that's one smart little guy right there. Danny says he's gonna stay close to home when he goes to
College. His advice, Don't be late paying utility bills. They're exactly like a credit card score. And just you
can be late on those credit card scores and not a good thing, he says. Make sure if you get that utility bill,
I pay everything on time. That's important.
Speaker 10
His mom, by the way.
Speaker 3
Has a credit score of over 800.

Speaker 10
God bless him he made it work
Speaker 3
that's it. We'll see you at 11.
Speaker 4
A North Texas teenager is heading to Florida for College. Growing up, he wanted to be a doctor, but
that's all changed the moment his mom gave him a new tour around the house. One that saved her
thousands of dollars and helped her son find a new path in life.
Speaker 1
Lower your rate used to be 17.99 variable, and now it's only 11.99. That's a big difference.
Speaker 5
He looks and sounds like a financial planner.
Speaker 1
He's the interest rate on this one used to be 13.24. but now it's only 10.24. No annual fees,
Speaker 5
but he's not. This is a mother and son crunching numbers, just as they've done for eight years since
Danny was 11 years old.
Speaker 6
I noticed that when he was 10, he was very into finances. And every time I paid bills , he would come and
watch me.
Speaker 5
When Mom, Rita started getting behind on finances, her then little boy took notice.

Speaker 6
And Danny said, Mom, why don't you let me take care of this? I looked at him. I'm like, No way. No way.
I'm gonna give it to you.
Speaker 5
But she did, starting small and under close supervision.
Speaker 1
But when she started working longer hours at her jobs, I was asked to just open the mail and pay the bills
and log in and just make sure nothing is delinquent.
Speaker 6
Very shocked for 11 years old to handle my finances. It's not heard of.
Speaker 5
Danny did more than pay the bills. He started monitoring her IRA, removing annual fees from credit cards.
He even refinanced the house at 14.
Speaker 1
My goal is to help her pay off her mortgage. I personally like paying above the minimum payment on that.
Speaker 5
Danny's achievements even caught the attention of Governor Rick Perry, who honored him with this
proclamation.
Speaker 1
This is 6.99 for life.
Speaker 5
And while Danny says Math is important for finance, there are two more essential parts to that equation.
Speaker 1

They require just attention and a lot of responsibility.
Speaker 6
I gave him a chance. He did a wonderful job.
Speaker 5
And now he's off to College to take his role of financial planner from a personal to a professional level.
Speaker 4
So Danny is attending the University of Central Florida. He still plans to manage his mom's account from
there.
Speaker 7
All right, well, millions of people in the state of Florida are facing foreclosures or short sales or other
financial issues. But there is help out there if you know where to look. But would you turn to a guy who's
only 20 and has been doing financial counseling since he was a teenager? Danny Singh is a local guy
who took control of his family's finances, and he's now helped others get out of debt and even save their
homes. He has a couple of books out, too, where you can turn to for help.
Speaker 7
There's one of them right there. It's called Finance 101. It is the Whiz Kids Perfect Credit Guide. And
Danny joins us once again on a good day to talk about his latest venture. Danny, good to see you man . I
appreciate you coming in. (Thank you) I mean, you're getting a lot of attention. You even have some big
politicians. Governor Rick Perry writing something in your book about this, how did you be in a position at
age 11 to take over the family finances? How does this work?
Speaker 1
My mom trusted me with her credit cards, and from there I taught myself everything by reading stuff on
the internet, talking to customer service agents on the phone. And I learned the concepts of credit. And
without credit, you cannot get anything in this world. And now I understand why it's a very big business
tool.
Speaker 7

But most people at age 11, what is that be fifth or sixth grade at that point, right? or maybe seventh
grade, they don't care about this kind of stuff. What was it about you where you truly care about this to
take this as a career path?
Speaker 1
When I was 11, I didn't at first I wasn't sure I was going to take this as a career path. I decided during my
years in College because I really loved business. When I was 11, I use the credit card to buy Slurpees at
the gas station and junk food and stuff like that. But later I started really understanding that if you don't
pay it, then it looks really bad on your background. 60% of employers now check credit. It's helped me
understand why we're in such a bad economic position.
Speaker 1
And I really want to help people achieve their dreams of financial victory. just as i helped my mom?
Speaker 7
You're going to seminal state right now and also UCF. At this point, you're a bit of a financial guru,
according to some people, is it tough for people to listen to you because you've been a teenager, not 20?
But you had people coming to you as a teenager saying, Hey, help me save my home. How did that work
out?
Speaker 1
some people put themselves into such a bad position because of scams out there that I couldn't even
help them. But there were some situations that I was successful in helping them. If you're in a position
where you cannot pay your home, go to (makemyhomeaffordable.Gov) and only go to that website. It's
run by the Obama administration. They have programs that can help you lower your monthly payment
and do other things. Many of the people that have come to me for help have done what's called a loan
modification, which is very dangerous.
Speaker 1
A loan modification is save your mortgage payment is 500 dollars a month and you reduce it by 300
dollars. And now it's 200 dollars every month. The 300 dollars, it's not erased. It's accumulating more with
interest. And it's also accumulating interest off of interest. And at some point in time, if the loan
modification is a trial loan modification, then the Bank is going to want a massive amount of money from
you. And if you don't pay it, they will repossess your house.

Speaker 7
Biggest mistake, your 20 year old guy looking at what 40 and 50 year olds are doing what's the biggest
mistake adults are making right now when it comes to finances?
Speaker 1
The biggest mistake I see is I think they're taking a lot of abusive loans out there. And I really want the
government to do something about this. There are loans called payday loans. They range from 36% all
the way up to 800%. There's no cap on the interest rate. And many adults are turning to those loans
because they have bad credits, because they've abused credit cards. I want to encourage everyone to
avoid those payday loans. You see them, especially on the Internet. You cannot deduct any of the
interest off your tax.
Speaker 1
A payday loan is, Let's say, if you have a bill due on Friday, but you have no money in your Bank account.
So Thursday you would go to the payday loan provider, you would give them a check, and on Friday they
would try cashing the check with all the interest.
Speaker 7
So put your way behind at that point. Okay. The books are out there working. You get 2 books by the
way. I got a couple of them. Finance 101, the WizKids perfect credit guide. Where do you get these?
Speaker 1
On Amazon and Barns Novels?
Speaker 7
Okay, they have them out there right now. Even gave us a shout out on the cover of the other books. So
appreciate that, Danny. Lots of good stuff in here. You're helping a lot of people do appreciate it.
Speaker 1
Best of luck. Thank you so much.
Speaker 10
All right, all the time.

Speaker 9
You're watching News 13 with Ybeth Bruzual and meteorologist Dave Cantarella. This is News 13. Prime
time.
Speaker 8
Good evening, everybody. Thanks so much for joining us on this Friday night. We're live at 10 o'clock I'm
Ybeth Bruzual, here's the big story. Plus, filing taxes to fixing credit scores will introduce you to a guy
who's been taking care of his family's finances since he was just 11 years old.....Paying the bills,
balancing the checkbook, all the testing responsibilities of being an adult. Right. But one mom says, you
know what? She just handed all over to her young son. News 13's Amenda Evans is joining us live in the
news.
Speaker 8
so Amanda, an 11 year old banker?
Speaker 9
Yeah, that is when Danny Sing started taking over all of his family's finances. His mom wrote us this email
saying he has never been laid on a bill in seven years and has fixed her credit problems. So we had to
meet him with flick back hair and a jet black suit. Danny thing looks like any other finance advisor laptop
in tow and seven years of experience under his belt. The only thing.
Speaker 1
Is he's just 18 years old. This is a matter of responsibility, as long as you're paying your bills on time, then
the bank will work with you. It's the responsibility he took on at 11 to help his mom out. He started working
longer hours.
Speaker 2
And so he told me to open the mail and make sure the bills weren't getting away.
Speaker 1
But he did much more. He took over the family finances.
Speaker 2

I do it differently than most adults. I actually pay every day to keep her utilization level on the credit cards
below 30 percent because that what lenders want to see it. He's helped get his mom a perfect credit
score and called the credit card companies once a week to try and get the interest rates down. And it
worked. one Credit card debt at a rate of 18 percent. And I talked to the corporate office and they cut it
down to nine point nine percent..... With his power tie and powerful attitude.
Speaker 2
This is one young man that got it together.
Speaker 2
You have to know your spending limits don't spend more than what you can't afford.
Speaker 1
Wise advice from this whiz kid taking his passion for money all the way to the bank. Are they anything as
a senior in high school now and is planning for college when he's not budgeting the checkbook? He's
been busy writing essays for college scholarship with one goal in mind. No big surprise. He wants to
study finance, but sure his mom is very proud. news 13's Amanda Evans reporting live for us tonight in
our NEWSROOM. It's eight a.m. from Fox thirty five.
Speaker 1
This is good day. Yeah, it's just bizarre. Are you worried about your finances? What if a college student
could have the answers that you need .....Coming up here on good day? We're going to introduce you to
a young man, Danny Singh, the financial whiz kid, how he's helped his family and how he can help you,
too.
Speaker 1
How are you this morning?
Speaker 3
good college students finishing school these days with a record amount of debt. But it's not just the
students. Their parents are also swimming in debt these days. So sometimes parents might just need to
listen to their kids to get on the right financial path. Danny Singh is the teenager known as the financial
whiz kid. Now, get this. You see these signs up everywhere. So at the age of 11, he took control to family.
Family finances at 14, started negotiating with the family's mortgage companies and the banks, asking for
refunds and lower rates.

Speaker 3
And today, he's speaking at Seminole State College. But first he's talking on good day. He joins me here
to talk about it Danny good to see you man, thanks for coming in. How old are you now, by the way? 19.
You're 19 and you're already a financial guru. Let's go back to square one. Why did you decide to get
involved in the family finances at age 11? Because most kids don't have any idea what's going on.
Speaker 2
It was really unexpected. She just gave me her credit cards and she was working longer hours on work.
And so she was just asking me to make sure the bills weren't getting late. My mom is obsessive
compulsive about that. And so I started just opening the mail she wanted, she started adding me to all our
accounts and giving me full authority. And so I started becoming unknowingly very interested in it.
Originally, I thought I was going to be a doctor, but that changed.
Speaker 2
And then it was very exciting to me to get interest rates down and fees refunded.
Speaker 3
So how did you think to call the companies and say, hey, I think this rate might be a little bit too high? And
by the way, give me a refund because you got, what, thirteen hundred dollars in refunds for your family,
right? Yes. How do you think to do that?
Speaker 2
My mom just told me that if you ever have an issue, call customer service center, as everyone should do.
I didn't think I could do that in the beginning, but I said, hey, we should try it. And so that's when I initiated
that. And so whenever there's an issue, I always call them or send them a letter or just any kind of contact
to get the issue resolved for her.
Speaker 3
I'm amazed at what you've done. And now, of course, you're in college. And so I would imagine student
loan debt is a big issue for you now too, what do you tell college students about college student loan
debt...... If you have student loan debt, don't look at it with fear, look at it with honor, because not
everyone can get credit, if you treat your student loan right, it can become your best friend. If you do
really well on student loans, you'll have little or no trouble getting a house, getting a credit card, getting
just anything, because you need to have credit to get anything in this world.

Speaker 3
If the best way to handle your student loan, unless there's a fee, an extra fee being charged, pay your
student loan the minimum payment with a credit card and then pay your credit card off immediately
because the rewards program does save money. But if there's a fee for doing that, then don't do it. Also,
be careful how many times you defer the payment, because when you defer the payment too many times,
then the interest starts compounding and your loan amount can eventually double.
Speaker 3
Amy, I wish I had met this guy 20 years ago. All right, thanks. Yeah. So you're going to be talking to
college students. What other financial issues are college students talking about these days? Because I'm
sure it also applies to their parents in many cases.
Speaker 2
Well, many students ask me why they need a credit card. Why not just invest the money? And the answer
that you need to have a credit card because companies will not give you their services, such as a house,
car, electricity, anything, without knowing that you will not cheat them. There's no way to tell that you're
just not going to use the water for one month and not pay the bill when you get it, then not having a
financial loss.
Speaker 2
And they're trying to avoid that. So I'm going to emphasize that. I'm also going to emphasize that
bankruptcy and debt settlement need to be avoided. That's what I feel is ruining the economy. If you have
a lot of debt, again, don't look at it with fear. Look at it with honor. You need to pay it off just as if your
professor gives you a lot of homework. You're just not going to do it. You're you're going to do it to the
best of your abilities .....
Speaker 2
And your 19 My gosh, you got a lot of wisdom early on. So I assume you're going to now go on into the
finance field, right? ...Yes. .....All right. So you're going to stay in Seminole and then off to an Ivy League, I
would imagine. Hopefully, yes. All right. There you go. Nice career track, Danny. Good to see you man.
Thank you so much. By the way, the talk today is that open to the public?
Speaker 2

And people come out in key comments at twelve thirty today at Seminole State College Ovido Campus, at
1:30. And I also have a website, Facebook.Com/students finance. So please visit it. I'll put more tips on
there weekly..... Danny you're off to a great start doing some good stuff. Thanks, man. Appreciate your
time. All right, Amy, we'll send it over to you guys.
Speaker 1
All right. We're talking about the chill in the air this morning...... Tomorrow in Good day, Orlando. A 14
year old bails his mom out of financial ruin. Find out his secret and how you can do it too..... Start fresh
tomorrow. With good day ....Here for you all morning long.
Speaker 4
He's been on top of finances since age 11 and passionate about it. ....I'm a big believer in paying your
bills on time.
Speaker 4
He refinanced his mother's home mortgage at age 14, now an honor student at Seminole State. He tells
me students need to treat their college loans. With respect, .....Student loans cannot be ignored. They
should be handled with honor. Not everybody can get credit. So be proud that you have a student loan
under your name.
Speaker 4
That's because it could lead to other loans you'll need after college if you want to buy a home or a new
car. One day, his seminars at 12:30 of the Seminole State campus after refinancing his mother's home
mortgage at age 14. This is easy..... I want to encourage everyone to pay their bills, avoid bankruptcy,
because bankruptcy seems to becoming increasingly popular.
Speaker 4
In fact, he tells me, paying down college loans the best thing because it impresses creditors. When you
go applying for a mortgage or a new car loan,...... You don't want to give them the impression that you are
a high risk. You want to save money and buy things that you want.
Speaker 4
The financial whiz kid will share some of his knowledge with fellow students at 12:30 today at the ovido
campus of Seminole State.

Young man takes control of family finances at age 13, earns mom perfect credit score

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Young man takes control of family finances at age 13, earns mom perfect credit score